Review Lease Terms & Conditions

ECOLOXTECH TWO (2) YEAR EQUIPMENT LEASE AGREEMENT TEMPLATE

This Equipment Lease Agreement ("Agreement") is made between EcoloxTech, Inc. ("Lessor") and ("Lessee").

ECOLOXTECH SYSTEM(S) TO BE INSTALLED:

ADDRESS OF INSTALLATION:

, , ,

REFUNDABLE SECURITY DEPOSIT AND MONTHLY PAYMENT :

DEFINITIONS

"Equipment" – All EcoloxTech Systems stated above including all holding tanks, float switches, pumps, and plumbing provided by the Lessor at the time of initial installation and at subsequent servicing and/or installations.

TERMS AND CONDITIONS OF LEASE

The Lessee leases from the Lessor and the Lessor leases to the Lessee the equipment described above (hereinafter the "Equipment") upon the terms and conditions set forth in this Lease.

TWO (2) YEAR LEASE TERM AND EARLY TERMINATION

This lease shall be effective from the date of acceptance by an authorized representative of the Lessor. The lease term commences, and the first monthly payment is due on the date the Equipment is installed. The lease shall end upon payment to the Lessor of the number of payments specified under the terms of payment and when the Equipment has been returned to the Lessor. All terms and conditions of this lease shall apply until the Equipment has been physically returned to the Lessor.

This lease cannot be cancelled or terminated. In the event of a cancellation or early termination of the lease, the Lessee agrees to pay the Lessor a fee of 50% of all remaining payments due for the remainder of the lease. If the term of the lease has passed and the Equipment has not been returned to the Lessor, the lease shall continue on a month-to-month basis and payments shall be required monthly.
Additionally, the Lessor retains the right to terminate the lease and require the return of the Equipment.

LEASE AND PAYMENT TERMS

  1. The first lease payment shall be due upon the commencement date and subsequent lease payments shall be due monthly from the commencement date.

  2. Payments shall be made via credit card payment, direct deposit, or ACH payment. Payments by check are not accepted.

  3. Lease payments are unconditional and payable net to the Lessor without abatement, set-off, or deduction.

  4. The Lessor reserves the right to assign a third-party company to manage the lease or collections.

SECURITY DEPOSIT

The Lessee shall deposit a security deposit with the Lessor prior to taking possession of the Equipment. The Lessor may use part or all of the deposit to repair any damage to the Equipment. The deposit is not to be used as or deducted from lease payments. If the Lessee breaches this Agreement, the deposit may be forfeited.

LIMITATION OF LIABILITY

The Lessor’s only obligation is to permit possession of the Equipment on an “as is” basis, provided the Lessee is not in default. The Lessor shall not be liable for any damages or losses from use or malfunction of the Equipment. It is the Lessee’s responsibility to notify the Lessor of any repair or service needs.

TITLE

Title and ownership of the Equipment remain with the Lessor. The Lessee has no right, title, or interest other than the lease right, provided the Lessee complies with the Agreement. Any Lessor-identifying marks must not be removed.

LOCATION AND USE

The Equipment must remain at the designated location unless otherwise agreed in writing. The Lessee shall ensure compliance with manuals, laws, and regulations. Only qualified personnel may operate the Equipment. Maintenance must be performed by an approved provider.

COMPLIANCE WITH LAWS

The Lessee must comply with all laws and regulations relating to the Equipment and is responsible for taxes, assessments, and license fees. If the Lessee fails to pay such amounts, the Lessor may pay them and require reimbursement.

MAINTENANCE, INSPECTION, AND EQUIPMENT GUARANTEE

The Lessee must maintain the Equipment in good condition and may not modify it without written consent. The Equipment remains at the Lessee’s risk. The Lessor may inspect the Equipment and guarantees it to be free of defects during the lease. Misuse, unauthorized repairs, or damage are not covered.

RETURN PROCEDURE

  1. Contact EcoloxTech at [email protected] and request an RMA number.

  2. Return the Equipment with the RMA included.

  3. A replacement may be sent before the return is received. The original must be returned within 30 days to avoid charges for both units.

INSURANCE

The Lessee shall obtain and maintain insurance against loss or damage to the Equipment, including but not limited to theft, fire, and collision.

ASSIGNMENT

The Lessee shall not assign this Agreement without written consent from the Lessor. The Lessor may assign its rights and will notify the Lessee of any such assignment.

REPUDIATION

If the Lessee fails to make a payment and the failure continues for thirty (30) days after written notice, the Lessee is deemed to have repudiated the Lease.

FEES AND INTEREST ON LATE AND OVERDUE PAYMENTS

The Lessee shall pay either:

• A late fee of $45 per occurrence, or

• Interest at a rate of 12% per annum, compounded monthly, on the overdue balance—whichever is greater.

MISCELLANEOUS

This Agreement shall be governed by the laws of the State of Delaware.

SIGNATURES

The undersigned acknowledge that they have read and accept the terms of this Lease Agreement.

Lessor:
EcoloxTech, Inc.

Lessee:

Full Name:
Company Name:

Title:

Signature: ________________
Date:__________________